First Mover Americas: Crypto Trading Volume Hits 4-Year Low

(CCData)

This article originally appeared in , CoinDesk’s daily newsletter putting the latest moves in crypto markets in context. .

(CoinDesk)

Crypto spot trading is at its lowest level since March 2019, according to digital assets data provider CCData, shedding some light on the soporific state of the market. Spot trading volume on centralized exchanges fell 7.78% to $475 billion in August, while volume in derivatives fell over 12% to $1.62 trillion, the second-lowest since 2021. An event such as Grayscale’s court victory over the SEC last week would have been expected to stoke a rally in crypto prices, but even this failed to spur traders into activity. “The low spot trading volume and the fluctuations in the open interest data suggest that the market is currently driven by speculation,” CCData said.

Major South Korean investment banking firm Mirae Asset Securities is working with the Polygon network to advance tokenization within finance. The Ethereum scaling network will serve as a technical consultant to the $500 billion asset manager, which is looking to create infrastructure to issue, exchange and distribute tokenized securities. Tokenization involves representing real-world assets such as bonds, equities and physical assets as digital tokens that can be traded on the blockchain, the theory being that this will make transacting them more efficient, transparent and liquid. Mirae would join other institutions such as Franklin Templeton in initiating tokenization projects on Polygon.

(Google Trends)